What is considered a Section 197 Intangible?

In order to qualify for a section 197 intangible, it must be acquired after August 10, 1993 and amortized over 15 years. 

Assets included are:

• Goodwill
• Going concern value
• Workforce in place
• Business books and records
• Operating systems or any other information base
• A patent
• Copyright
• Formula
• Process
• Design
• Pattern
• Know-how
• Format
• A customer-based intangible
• A supplier-based intangible
• A license, permit, or a right granted by a governmental unit or agency
• A covenant, a franchise, trademark, or a trade name.